tips for young (or old?) players!
I bumped into a friend at Oliver’s in Melbourne Street today and had a quick chat about his plan to purchase a second apartment in South Brisbane and he asked for my opinion. Paul’s been looking for a while, and this time he’ll be moving in (he’s already spoken to us about property management!) Here’s a brief summary of what I told him I think is important:
1. Avoid the busy streets. There’s a strong business presence in South Brisbane, but some streets are quieter than others. Silhouette in Manning Street and Que in Edmondstone are well located, but avoid most of the traffic.
2. Smaller buildings are better. Many buildings in South Brisbane have 100 or more apartments and these tend to be busy. Gala in Hope Street and Greenwich in Cordelia Street both have less then 50 apartment in each, so it is possible to avoid the usual ‘stranger’ feel that you get in big buildings.
3. Big blocks make for big turnover. Avoid Buildings with a large number of apartments as this usually means a large number of apartments for sale at any one time. Competition from other apartments within won’t make it easy if you make the decision to sell sometime in the future and need to sell quickly.
4. Find a building with lots of owners. Whilst most South Brisbane apartments are tenanted, there are still a few buildings full of owners. Riviera II and Northbridge in Vulture St have a good mix of tenants and owners, and both building managers are very proactive in their approach to keep things neat and tidy.
This is just a snapshot for what you might like to consider if moving into South Brisbane. It’s not rocket science, but it can make a big difference when the time comes to sell.